Cotton futures are trading 21 to 30 points lower this morning. They were up 34 to 77 points in most contracts at midday. USDA will release their weekly Export Sales report shortly, showing data for the week ending 8/15. Traders were thought to be covering their short positions ahead of the report. At an auction of state reserves on Wednesday, China sold 10,455 MT of cotton, totaling 92.67% of the amount offered. The Cotlook A Index was down 90 points on August 20 at 70.50 cents/lb. The weekly AWP is 52.22 cents/lb and will be updated on Thursday.

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